Open interest in Bitcoin options with maturity reached a record in March

Contracts expiring on Friday account for 40% of the total OI, representatives of the crypto derivatives platform noted.

According to The Block, open interest in bitcoin options maturing in March peaked at $8.6 billion. In January and February, these values for contracts at the end of the month amounted to $3.74 billion and $3.72 billion, respectively.

Of the mentioned Deribit, $9.5 billion will expire "in cash" at the current bitcoin price of $70,000. The level of "maximum pain" is located at around $50,000.

According to the representatives of the platform, the current situation implies that a large number of options are profitable due to the recent increase in quotations.

This may lead to derivatives traders trying to hedge their positions or speculate on further price movements. Such activity could potentially put upward pressure on the exchange rate of the first cryptocurrency or increase volatility, they explained.

According to Deribit commercial director Luuk Strayers, the cryptocurrency market is still quite optimistic given the derivatives data.

The expert noted the presence of an OI for bitcoin options with a nominal value of $100,000 for $1.2 billion.

"The parameters are decent [...] for both Bitcoin and Ethereum contracts with short maturities and improve when viewed over a longer distance. This means that calls are more expensive and in greater demand than bonds," he added.

Source: https://forklog.com/news/otkrytyj-interes-po-bitkoin-optsionam-s-pogasheniem-v-marte-dostig-rekorda